An Alabama Payday Loan Company Employee Accused of Identity Theft

Inside Subprime: Oct 29, 2018

By Grace Austin

An Alabama payday loan company employee is being accused of identity theft and forgery, among other charges, after stealing customers’ information.

Always Money employee Dominque Banks, 33, was booked at the county jail in late October. Police say there have been at least three victims of her crimes, and they believe there might be a fourth, according to a Huntsville, Alabama-based TV station.

Police say Banks stole old customer data to pay off loans and write new ones, pocketing the cash. That included forging signatures on the loan applications. Police say she stole just under $3,000 from customers.

Officials say they were tipped off because payments stopped on the loans.

Always Money told WHNT in Huntsville that an internal investigation led to the police investigation and subsequent charges. The payday loan firm claims they spoke to the victims and contacted police right away about Banks’ potential fraud.

Since payday loan providers don’t require a lot of information for their applications, it’s easier for thieves to steal customer’s identity. And payday loan firms have found a comfortable home in Huntsville, where Banks’ fraud took place. The city was home to 747 licensed payday lenders in 2016.

In addition to Alabama, payday loans are also legal in the region including in South Carolina, due to loopholes in the laws, and Mississippi, which is the poorest state in the country.